Are You Better Off Now Than You Were Four Years Ago? Compare today's economy to 2020, from gas prices to employment.

Consumer Price Index for Americans 62 and older (R-CPI-E)283.922343.324Indicates inflation of 21% over the period, virtually the same as the overall CPI. WorseInflation peaked at 9.1% in June 2022. In November 2020, the year-over-year inflation rate was 1.2%. In July of this year, it was 2.9%Median personal income after inflation$35,860 $49,001On average, workers saw a 37% increase in pay.BetterRow 1 - Cell 5 S&P 50033105522The index gained 67%, excluding dividends.BetterRow 2 - Cell 5 Average monthly Social Security check$1,458$1,918That's a 32% increase, beating inflation by 10 points.BetterBenefits rose 8.7% in 2023, the largest yearly increase in decades.Median monthly traditional Medicare Part B premium $144.60 $ 174.70 Up 21%, in line with inflationAbout the sameRow 4 - Cell 5 COVID deaths (monthly) 53,248 2,207A decline of more than 95.9%BetterDeaths peaked in January 2021, at 98,174Typical cost of a pair of hearing aids $2,600 - $4,000$2,000 - $3,600Price cuts from 10% to 23% or more.BetterCongress passed a law in 2017 allowing aids to be sold without prescriptions, taking effect in 2022. Less technologically sophisticated aids are available today for as low as $100 a pair.Average cost of a new car $ 39,295 $48,401That's an increase of 23%, two points more than inflationWorseCar manufacturing was disrupted somewhat during the pandemic as some components couldn't be delivered.Nursing home costs per month$8,821$10,025That's an increase of 15% over the last four years, less than the inflation rate.BetterCosts remain high, with the average private nursing home costing $10,025 a month and public nursing homes costing $8,929. Average existing home prices$311,000 $427,000 That's a 37% increase in value. BetterBetter for older homeowners who are selling than for younger ones who are buying. Case-Shiller housing price index232325That's a 40% increaseBetterBetter for older owners than younger buyers.Cost of borrowing: 30-year fixed rate mortgages2.78%6.73%That's more than double the home loan interest rate.WorseThe Federal Reserve raised interest rates to fight inflation.Cost of borrowing: Credit cards14.65%23.17%That's a 48% increase in credit card interestWorseThe Federal Reserve raised interest rates to fight inflation.Average price of a gallon of regular gasoline $2.12 $3.52A whopping 66% increase, three times the 21% increase in the CPI.WorseWhile prices were low in 2020 due to the decline in demand during the pandemic, price rises were likely tempered partly by increased oil production. U.S. crude oil output rose to 13.3 million barrels/day in July 2024, up from 10.5 million in early November 2020.Food and beverage inflation CPI for seniors274.893335.191That's a 22% increase, one point above the overall Senior CPIWorseEconomists say much of food inflation likely results from rising fuel costs after Russia's 2022 invasion of Ukraine.U.S. life expectancy78.9379.25A modest increase, less than 1%About the sameThe figures are based on life expectancy at birth.Cost of monthly electricity bill $117 $147 A 26% increase, well in excess of the overall inflation rate.WorseElectric cars, crypto mining and AI chips require more electricity. The price of coal, which is commonly used for electricity generation, is also higher.Number of job openings6.9 million8.2 million That's a hefty increase in job openingsBetterRow 17 - Cell 5 Unemployment rate6.7%4.3%That's a significant improvementBetterRow 18 - Cell 5